Partnership Streamlines Meter-to-Cash Process and Enables Customers to Have a Complete Understanding of the Financial Impact of Making Clean Energy Decisions
ALPHARETTA, Ga., May 4, 2022 – powercloud, the cloud CIS billing software for the energy and utilities industry, today announced their newest powercloud partner, GridX, Inc., the leading enterprise rate platform provider to modern utilities and energy technology companies.
Utilities are increasingly turning to Time-of-Use (TOU) rate plans to aid in their decarbonization efforts. To maximize the impact of these variable rates, they need to be able to quickly define and implement programs, deliver education on their benefits and bill customers based on their individual usage. GridX quickly analyzes millions of data points to determine the bill impact of participating in a TOU rate plan in dollars and cents and has been used to implement some of the most complex rates at the largest utilities in the U.S., including PG&E, SCE, PSEG Long Island and Consumers Energy. By providing an integrated solution, GridX and powercloud enable utilities to quickly implement new rates with an easy hand-off to the powercloud billing system without maintaining two pricing catalogs.
“For utilities, products and cost components are getting more complex and the speed at which they are being asked to implement them is increasing,” stated Steven Dawson, VP & Country Manager, powercloud.” With GridX, business users, with no technical experience, can model, test and validate tariffs, rates and programs. Direct integration with the powercloud billing system means the work only need be completed once, and this is a huge benefit for these users.”
The GridX enterprise rate platform includes integrated rate and cost analysis to enable customers to find the best rate plan that fits their needs. With an entire suite of applications to manage the complete utility product life cycle, it includes rate design, marketing outreach, enhanced customer care, and key account management.
“Utilities are facing growing regulatory mandates that require more complex options and business models, which are required to help achieve decarbonization goals,” said Scott Engstrom, Chief Customer Officer, GridX. “This partnership enables them to upgrade their Meter-to-Cash processes and reduce operating costs with cross-platform automation that is easy to maintain and enhance. Our advanced analytics enhances the CIS function by reducing the time needed to roll out TOU plans from months to weeks and ensures a seamless billing process on the back end.”
Simplification of the IT architecture is supported by the powercloud billing platform through open APIs, allowing utilities to easily connect to additional services and functionalities by 3rd parties. Both the powercloud and GridX solutions run on Amazon Web Services (AWS) globally.
powercloud and GridX will showcase the integrated solution at the CS Week Conference beginning May 3 this year in Phoenix, AZ.